This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. Its boronic acid group enables efficient coupling with aryl or vinyl halides, facilitating the formation of carbon-carbon bonds. Additionally, it is employed in the development of cyclopentene-based compounds, which are valuable in drug discovery and material science. The presence of anhydride may influence its reactivity, making it suitable for specific synthetic pathways requiring controlled conditions.